High offers and holidays kept imported scrap trades on the lower side and buyers remained cautious before making bookings.
Vietnam – Imported scrap trades to Vietnam slowed down over the last week, after healthy buying activities in the previous week, as a sharp rise in offers against conservative bids from buyers ensured very limited deals getting concluded.
Japanese H2 scrap in bulk was offered at USD 242-244/MT CFR for South Vietnam buyers and USD 249-251/MT CFR for North Vietnam (LC 90 days), rising by USD 8-9/MT against last week’s bookings of Japanese H2 at USD 234-235/MT CFR South Vietnam. Buyers in North Vietnam bid at significantly lower USD 240-242/MT CFR, while sources confirmed that suppliers wish to wait till after the holidays for good price levels.
Additionally, H2 scrap offers from South Korea were also witnessed, as Korean suppliers attempt to find overseas buyers amid dull domestic sentiments. Korean H2 scrap was offered at USD 242/MT CFR North Vietnam, at a lower level than Japanese counterpart.
Among very few deals concluded last week, HS scrap was sold at USD 261/MT CFR Vietnam.
Thailand & Indonesia – Due to holiday till Wednesday, no fresh transactions were heard, while last week, Central American HMS offers were reported at USD 220/MT CFR Thailand.
Indonesia witnessed no major bookings last week, However, PNS offers to Malaysia stood at USD 235/MT CFR Klang, while few offers of Busheling were reported at USD 285/MT CFR Klang.
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